AMTM vs NOC vs LHX Stock Comparison

Amentum Holdings, Northrop Grumman and L3Harris Technologies Prices as of Oct 23, 2026 Peers: Industry group

Head to Head

12 decided of 12

Northrop Grumman leads on 6 of the 12 questions below (Northrop Grumman 6, Amentum Holdings 3, L3Harris Technologies 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAMTMNOCLHXLeader
Larger companyMarket capitalisation $5.37B $80.39B $48.43B NOC
Cheaper on earningsLower P/E, profitable companies only 26.3x 17.8x 26.0x NOC
Cheaper on forward earningsLower price / next fiscal year consensus EPS 8.6x 18.1x 22.2x AMTM
Faster revenue growthRevenue growth, trailing twelve months +11.4% +6.5% +83.2% LHX
More profitableNet margin, trailing twelve months 1.4% 10.4% 4.8% NOC
Better return on capitalReturn on invested capital 5.1% 12.2% 11.8% NOC
Less leveragedLower net debt / EBITDA 3.2x 1.7x 1.8x NOC
Higher dividend yieldTrailing dividend yield 0.00% 0.02% 0.02% LHX
Better 1-year returnPrice return, last 12 months -6.1% -8.9% -13.4% AMTM
Better 5-year returnAnnualised price return, 5 years — +6.3%/yr +0.7%/yr NOC
Less volatileAnnualised volatility, 1 year 46.4% 28.5% 28.5% LHX
Higher overall scoreMean of the five percentile scores vs peers 69/100 58/100 67/100 AMTM

Percentile Scorecard

AMTMNOCLHX

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAMTMNOCLHX
Valuation 100 #1 of 100 73 #28 of 100 93 #8 of 100
Growth 95 #6 of 97 41 #58 of 97 82 #18 of 97
Profitability 58 #41 of 96 76 #24 of 96 72 #28 of 96
Financial Health 25 #80 of 106 42 #62 of 106 35 #69 of 106
Shareholder Returns – 61 #26 of 65 52 #32 of 65
Overall 69 58 67
  • AMTM ranked among 107 companies in Aerospace and Defense
  • NOC ranked among 107 companies in Aerospace and Defense
  • LHX ranked among 107 companies in Aerospace and Defense

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAMTMNOCLHXSPY
1 month +10.2%+7.2%+6.2% -1.0%
3 months -3.6%+1.7%-15.4% +2.9%
6 months -15.9%-4.1%-20.0% +6.4%
Year to date -25.0%-3.3%-13.5% +11.4%
1 year -6.1%-8.9%-13.4% +13.1%
3 years —+15.3%+46.8% +79.4%
3 years, per year —+4.9%+13.7% +21.5%
5 years —+35.8%+3.8% +67.7%
5 years, per year —+6.3%+0.7% +10.9%
10 years —+155.5%+180.5% +255.2%
10 years, per year —+9.8%+10.9% +13.5%

Risk

MeasureAMTMNOCLHXSPY
Volatility, 1Y 46.4%28.5%28.5% 12.7%
Downside volatility, 1Y 43.6%28.2%28.9% 12.7%
Beta vs S&P 500, 1Y 1.09-0.020.18 1.00
Return / volatility, 1Y -0.13-0.31-0.47 1.03
Max drawdown, 5Y -51.7%-38.4%-40.4% -25.4%
From 52-week high -42.1%-28.2%-32.9% -2.5%
52-week high $37.53$768.02$378.48 $779.14
52-week low $18.12$473.40$233.68 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAMTMNOCLHX
P/E now vs peer median 26.0xmedian 26.2x 17.3xmedian 26.2x 25.4xmedian 26.2x
P/S now vs peer median 0.4xmedian 2.9x 1.8xmedian 2.9x 1.2xmedian 2.9x
EV/EBITDA now vs peer median 8.4xmedian 14.7x 14.5xmedian 14.7x 10.9xmedian 14.7x
P/FCF now vs peer median 11.2xmedian 24.9x 20.5xmedian 24.9x 16.8xmedian 24.9x
P/B now vs peer median 1.1xmedian 2.4x 4.2xmedian 2.4x 2.4xmedian 2.4x
PEG now vs peer median —median 0.92 17.02median 0.92 0.77median 0.92

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAMTMNOCLHX
Revenue $14.13B $43.59B $39.15B
Gross profit $1.45B $8.73B $10.02B
Operating income $596.00M $4.63B $4.04B
Net income $204.00M $4.52B $1.87B
Free cash flow $474.00M $3.83B $2.81B
EPS (diluted) $0.83 $31.74 $9.93
Cash & equivalents $459.00M $3.74B $1.52B
Total debt $3.83B $58.43B $45.19B
Shares (diluted) 245.00M 142.40M 187.30M
Enterprise value $3.80B $67.84B $44.91B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAMTMNOCLHX
P/E 26.0x 17.3x 25.4x
P/FCF 11.2x 20.5x 16.8x
P/Operating cash flow 10.5x 14.9x 14.4x
P/S 0.4x 1.8x 1.2x
P/B 1.1x 4.2x 2.4x
P/Tangible book 1.7x 4.2x 3.5x
EV/EBITDA 8.4x 14.5x 10.9x
EV/EBIT 14.6x 19.3x 14.1x
EV/Revenue 0.6x 2.0x 1.4x
EV/FCF 18.3x 23.3x 20.2x
EV/Operating cash flow 17.2x 16.9x 17.2x
PEG (3Y EPS CAGR) – 17.02 0.77

Growth

14 metrics
MetricAMTMNOCLHX
Revenue growth (1Y) 11.4% 6.5% 83.2%
Revenue CAGR (3Y) – 4.1% 29.6%
Gross profit growth (1Y) 11.9% 9.8% 82.2%
Gross profit CAGR (3Y) – 3.4% 27.7%
Operating income growth (1Y) 60.2% 6.8% 86.9%
Operating income CAGR (3Y) – 6.4% 32.2%
Net income growth (1Y) 240.0% 12.5% 10.0%
Net income CAGR (3Y) – -1.1% 32.5%
EPS growth (1Y) 289.1% 13.3% 9.9%
EPS CAGR (3Y) – 1.0% 33.0%
Operating cash flow growth (1Y) 215.6% 53.2% 31.3%
Operating cash flow CAGR (3Y) – 12.5% 15.5%
Free cash flow growth (1Y) 243.5% 108.8% 29.8%
Free cash flow CAGR (3Y) – 22.3% 15.2%

Profitability

14 metrics
MetricAMTMNOCLHX
Gross margin 10.2% 20.0% 25.6%
EBITDA margin 7.3% 14.1% 13.4%
Operating margin 4.2% 10.6% 10.3%
Pretax margin 1.9% 12.0% 9.7%
Net margin 1.4% 10.4% 4.8%
FCF margin 3.4% 8.8% 7.2%
Operating cash flow margin 3.6% 12.1% 8.4%
Return on equity 4.2% 24.7% 9.5%
Return on assets 1.8% 8.8% 4.4%
Return on invested capital 5.1% 12.2% 11.8%
Return on capital employed 6.6% 12.2% 12.0%
Asset turnover 1.3x 0.8x 0.9x
Cash conversion (OCF / net income) 2.5x 1.2x 1.8x
Stock comp / revenue 0.2% 0.3% 0.3%

Financial Health

11 metrics
MetricAMTMNOCLHX
Debt / assets 34.2% 27.5% 25.6%
Debt / equity 0.8x 0.8x 0.6x
Net debt / EBITDA 3.2x 1.7x 1.8x
Debt / FCF 8.1x 3.8x 3.9x
Liabilities / assets 57.2% 64.4% 53.7%
Equity / assets 42.8% 35.6% 46.3%
Interest coverage – 7.1x –
Current ratio 1.5x 1.2x 1.2x
Quick ratio 1.9x 1.0x 0.8x
Cash ratio 0.2x 0.3x 0.2x
Altman Z-score 2.01 3.08 2.65

Shareholder Returns

7 metrics
MetricAMTMNOCLHX
Dividend yield – 1.7% 1.9%
Net buyback yield – 0.7% 1.9%
Shareholder yield – 2.4% 3.9%
Payout ratio (earnings) – 30.2% 49.1%
Payout ratio (FCF) – 35.6% 32.8%
Dividend growth (1Y) – 8.0% 2.9%
Dividend CAGR (3Y) – 7.4% 2.1%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAMTMNOCLHX
Forward P/E 8.6xFY2026 18.1xFY2026 22.2xFY2026
EPS, next fiscal year $2.52FY2026 $30.52FY2026 $11.43FY2026
EPS growth, next FY +13.5%FY2026 +15.9%FY2026 +6.5%FY2026
EPS growth, the year after +11.5% +5.9% +10.6%
Revenue, next fiscal year $12.96BFY2026 $42.94BFY2026 $24.17BFY2026
Revenue growth, next FY -9.9%FY2026 +2.4%FY2026 +10.6%FY2026
Revenue growth, the year after +3.3% +3.7% +0.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAMTMNOCLHX
Held by institutions 89.7% 83.4% 87.5%
Institutions holding 463 1,809 1,691
Change in shares held, QoQ +3.7% +0.3% -0.5%
Institutions buying 210 840 847
Institutions selling 154 639 570
Buyers to sellers 1.36 1.31 1.49

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AMTMNOCLHX
AMTM 1.00 0.32 0.40
NOC 0.32 1.00 0.65
LHX 0.40 0.65 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, AMTM, NOC and LHX?

Northrop Grumman (NOC) is the largest by market capitalisation: Amentum Holdings (AMTM) $5.37B, Northrop Grumman (NOC) $80.39B, L3Harris Technologies (LHX) $48.43B.

Which stock is cheaper, AMTM, NOC and LHX?

Northrop Grumman (NOC) trades on the lowest price-to-earnings ratio (Amentum Holdings (AMTM) 26.3x, Northrop Grumman (NOC) 17.8x, L3Harris Technologies (LHX) 26.0x). On next year's consensus earnings, Amentum Holdings (AMTM) is cheapest (Amentum Holdings (AMTM) 8.6x, Northrop Grumman (NOC) 18.1x, L3Harris Technologies (LHX) 22.2x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

L3Harris Technologies (LHX) grew revenue fastest over the trailing twelve months: Amentum Holdings (AMTM) +11.4%, Northrop Grumman (NOC) +6.5%, L3Harris Technologies (LHX) +83.2%.

Which company is more profitable?

Northrop Grumman (NOC) has the highest net margin (Amentum Holdings (AMTM) 1.4%, Northrop Grumman (NOC) 10.4%, L3Harris Technologies (LHX) 4.8%). On return on invested capital, Northrop Grumman (NOC) leads (Amentum Holdings (AMTM) 5.1%, Northrop Grumman (NOC) 12.2%, L3Harris Technologies (LHX) 11.8%).

Which stock has performed better?

Over the past year Amentum Holdings (AMTM) returned the most: Amentum Holdings (AMTM) -6.1%, Northrop Grumman (NOC) -8.9%, L3Harris Technologies (LHX) -13.4%. Over five years, Northrop Grumman (NOC) compounded fastest (Northrop Grumman (NOC) +6.3%/yr, L3Harris Technologies (LHX) +0.7%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

L3Harris Technologies (LHX) has the highest dividend yield: Amentum Holdings (AMTM) 0.00%, Northrop Grumman (NOC) 0.02%, L3Harris Technologies (LHX) 0.02%. Amentum Holdings (AMTM) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, L3Harris Technologies (LHX) has been the steadiest (Amentum Holdings (AMTM) 46.4%, Northrop Grumman (NOC) 28.5%, L3Harris Technologies (LHX) 28.5%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, AMTM, NOC and LHX?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Northrop Grumman (NOC) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.